State of the market : the market remains optimistic, despite the risks

At the opening of trading on Wednesday, after weak data on business activity in the services sector in China and the slowdown in Australian GDP, the market shows a moderate growth of optimism that contributes to the strengthening of commodity currencies and stock indices. Asian and Pacific stock indices opened the day with growth following the significant strengthening of the US stock indices. The main driver to strengthen the index is the technical correction after the decline.

The US dollar index remains under the pressure, waiting for a decline in the US rates. Thus, the dollar index opened the day near significant support of 97.00, retaining the downward dynamics of the last days. In the context of the resumption of the sale of American dollar it is expected test of support levels: 96.80 and 96.60. Resistance: 97.30-40.

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Hanzenko Anton

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